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The global offshore support vessel market is accounted for USD 29.15 billion in 2015 and is estimated to reach by USD 43.07 till 2022 at a CAGR of 5.7%. Discovery for new oil and gas fields offshore and its growing demand are the major factors which the driving the growth of the market for offshore support vessel. Along with this, rising offshore activities and increasing investments for infrastructure are also responsible for driving the market growth. Offshore support vessel helps in offering the services to offshore pipe laying, production platform of oil which are used in activities of production and exploration. Continuous advancement in technology and high innovations in their product are offering great opportunity for the market growth of offshore support vessel. Though the market includes several driving factors but there are some of the factors which are hindering the market growth such as high cost of maintenance and replacement cost for offshore support vessel.

The offshore support vessel global market is segmented on the basis of its type and depth of the OSV. Based upon the type the global offshore vessel market is classified by anchor handling (AHTS), multipurpose service, towing & supply vessel, platform supply vessel, crew boats market, standby vessel. Based upon the depth the global market of offshore support vessel is classified as seep water offshore support vessel, shallow water support vessel. Anchor handling and towing supply vessel are designed for positioning from one place to another for tow rigs and anchor rigs. These anchor handling and towing supply vessel type supports constructional projects and offshore drilling pipe. The anchor handling & towing supply is estimated to dominate the market.

Deepwater offshore support vessel are expected to witness largest market share for OSV market. With maturing in onshore oilfields and subsea the offshore market is estimated to rise significantly during the coming years in which regions like North America, Latin America and Europe, West Africa are leading in total expenditure and resulting for highest growth rate for deepwater offshore support vessel and this are quite ahead as of shallow water offshore support vessel.

On the basis of the geography the offshore support vessel market is mainly segmented into North America, Latin America, Europe, APAC and the rest of the world. In terms of growth rate Asia pacific is leading the market for offshore support vessel among all the regions followed by Latin America. Rising demand for offshore support vessel in this region is mainly due to the rising exploration activities in south east Asia and thus contributing to drive the demand in this region. Also increasing deep and ultra deep water hydrocarbon activities mainly in South China sea is also contributing in fueling the market growth.